Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Victorian treasurer Tim Pallas has advised locally-based, but foreign-controlled developers, such as Mirvac and Australand, may be exempted from the government's new foreign buyer taxes.
The 3% stamp duty on foreigner buyers of especially residential off-the-plan purchases also applies to the purchase of residential land for development itself.
This catches major developers when they acquire land for residential projects. 
Mr Pallas confirm it would apply to companies with majority foreign ownership, when questioned by The Australian Financial Review.
"Appropriate exemptions will apply to ensure relevant Australian based corporations and trusts are not unintentionally caught," Mr Pallas said.
Queensland has been prompt to take advantage, ruling out any similar surcharges on foreign buyers in the sunshine state.
New South Wales is yet to makes its strategy clear.
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jchancellor-FAypfDUnLy

Mirvac, Australand want out of Victorian foreign buyers tax

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The Athelstone Shopping Centre in Adelaide’s north-east suburbs has been sold for a $12 million reflecting a 7.9% yield.
The property, prominently located on a 1.328 hectare land holding at 312-328 Gorge Road at Athelstone, was sold by Peter Isaksson and Rino Carpinelli of Savills South Australia,
It was sold to a private Adelaide-based investor with a total retail floor space of 4,611 square metres, anchored by Romeo’s Foodland Supermarket.
It also includes 200 car park spaces.
Romeo’s Foodland Supermarket, comprises 42.8% of the centre’s total income and is secured on a long-term lease until 2022.
Savills recorded $460 million worth of retail property transactions in South Australia in the year to December 2014, up from $209 million in the previous year, and up on the five year average of $323 million. 
In the year to December 2014, Savills recorded 51 retail property sales in South Australia, up from the previous year of 31, and up on the five year average of 43.
 
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Savills South Australia sells Athelstone Shopping Centre

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The Mortgage &amp; Finance Association of Australia has leased Sydney office property on Pitt Street. 
The ninth floor 130 Pitt Street space is 381 square metres.  
CBRE’s Jamie King negotiated the five-year term on behalf of Investa Funds Management.
The annual rental is $760 per sqm gross. 
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Mortgage & Finance Association of Australia take Pitt Street lease

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The 2015 Federal budget left property well-alone, other than confirmation of the looming pension asset test changes in early 2017. 
Last week Property Observer suggested couples approaching retirement - and aware of the rules in advance - will possibly <a href="/expert-insights/investing/upsizing-homes-before-retirement-and-forget-passing-down-the-holiday-shack-joe-hockeys-2015-budget-pension-implications">compromise on their superannuation voluntary contributions</a> - or sell one of the two $400,000 investment properties - and instead push the funds towards buying an untaxed, un-counted bigger, better home that can be beneficially sold later in retirement.
Now with budget confirmation, data and commentary confirm that some supposed asset-rich part pensioners will wisely upsize homes in order to retain their pensions, and then build up a tax-free asset for their late retirement years. The Scott Morrison aim was for older couples who own their home and have other assets between about $800,000 and $1.2 million to lose their part-pension altogether. 
It presumes the asset test pension limit changes get through parliament.
It will certainly take some planning by nearing pensioners and professionals to ensure it all works, but as one listener told 2GB's Ross Greenwood pre-budget it makes fiscal sense to sell that second $400,000 investment property in coming years to get below the asset test threshold.
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<div>Ross Greenwood also explained to <a href="https://www.9jumpin.com.au/show/today/videos/4230274363001/" target="_blank" style="line-height: 1.3em;">his Channel 9 Today show viewers</a> pre-budget how wise financial planning following the Federal Budget would save part-pensions, to the applause of his colleagues.</div>
"Clever people can work out how to get around Scott Morrison’s new pension rules," the morning show report advised, warning part-pensioners can't give the money away as otherwise Centrelink will nab you..
"Just before you reach pension age you buy something that is not subject to the assets test.
"That something is a new house.
"So in this case the people with $800,000 sell their current home and buy a new home that is $400,000 more expensive, so they reduce their assessable assets to $400,000.
"And they get a 75% pay rise in retirement.
"Infuture if they are desperate for their dough they sell the house which hopefully keeps going up with inflation," Ross Greenwood advised.
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Ross Greenwood quickly sensed retirees set to lose their very small part pension could envisage the gradual destruction to the income under the 2015 Federal budget initiative set to start in 2017.
One pensioners was prompted to write that the Scott Morrison-Joe Hockey 2015 Federal budget proposal "can have only been dreamed up by comfortably well off politicians who have no appreciation of what it is like to try to live off one’s own assets." 
And two charts compiled by the pensioner show how home-owning couples will be effected.
In the first chart, with an interest rate of 3% a couple with $800,000 of assets would only end up with a yearly income of $25,773, whereas a couple with $400,000 and almost a full pension will have a yearly income of $44,973.
A difference in income of $19,200 to the advantage of the couple with less assets.
<img src="/images/2015/05/08/700_2015_budget.jpg" alt="">
In the second chart, where the interest is increased to 5% a couple with $800,000 of assets would only end up with a yearly income of $41,773 whereas a couple with $400,000 and almost a full pension will have a yearly income of $52,973.
A difference in income of $11,200 to the advantage of the couple with less assets.
<img src="/images/2015/05/08/700-budget2.jpg" alt="">
It was calculated it is not until the interest rate is at about 7% that the couple on $800,000 earns an income more or less level with the couple on $400,000.
The outcome is not exclusive to home owning couples, but effects all four categories of retirees.
Pensioners acknowledge the present taper and thresholds can also show the same sort of warp in incomes, it is less evident and indeed at 4% interest most asset levels draw equal in the income they can achieve.
Retirees who are very cautious with investing their assets especially after their experiences in the GFC - are finding trying to earn even 3% is getting harder.
Pensioners suggest any riskier investments could invite loss of capital, which for a retiree can never be made up.
Lots of retirees will either have to dip into their capital and with the spiral down effect that this will produce, will sooner rather than later end up on the full and part pension anyway.
Many others will decide to spend their assets on holidays, upgrading homes or renovations, in order obtain a higher income via the full pension.
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Offloading assets and home upsizing: the maze to keep your part-pension in 2017

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The historic Newspaper House, at 247 Collins Street, Melbourne is under offer.
It comes with mosaic mural on its front facade designed by Napier Waller in 1932.
Mervyn Napier Waller's "I'll put a girdle about the earth" features heroic human figures appear among scenes of commerce, construction and communication.
There's lots of gold, an echo of the Byzantine era, in the 1933 commission by Sir Keith Murdoch from the Herald &amp; Weekly Times who needed more than their empire on Flinders Street.
It was the former WH Rocke Ltd building on a 478 square metre holding.
<a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501464323" target="_blank">Set near Swanston Street with a 2084 square metre floor area</a>, it was marketed recently by CBRE as an irreplaceable seven level sandstone retail and office building, fully refurnished and upgraded.
Agents suggested it was a genuine “blank canvas” providing strategic opportunity for multi-level retail and/or residential/hotel conversion.
In 2010 Savills Australia had brokered a five-year lease deal for 250 square metres to Nespresso, who have now departed.
Its latest sale price has not been revealed but the former Herald and Weekly Times building sold for $11.08 million to a private investor, Melbourne horse-racing identity Ken Biddick in 2006 through Knight Frank, fully leased for $403,600 a year, reflecting a yield of 3.6%.
The then vendor, Desmond Oppenheimer had bought the building for $7.55 million in 2002.
The ground floor of 247 Collins Street had been previously leased to the House of Cashmere, and the upper levels to Sydney International College.  
HIDDEN TREASURES OF NAPIER WALLER
1926-27 MURALS Melbourne Town Hall, Swanston Street.
1927 MURAL Menzies Hotel, cnr Bourke and William streets (building demolished in 1969, mural sold privately).
1928 MURAL Better Than to Squander Life's Gifts Is to Conserve Them and Ensure a Fearless Future T&amp;G Life Building entry foyer, cnr Collins and Russell streets.
1928 MURAL Peace After Victory State Library of Victoria, first-floor landing near La Trobe Reading Room, cnr, Swanston and La Trobe street.
1933 MOSAIC I'll Put a Girdle Round the Earth Newspaper House facade, 247 Collins Street.
1934 FLORENTINE MURALS Florentino Restaurant, now Grossi Florentino, first floor, 80 Bourke Street.
1935 STAINED GLASS WINDOW Wesley Church, Pioneers window, upper gallery, north wall, 148 Lonsdale Street.
1935 STAINED GLASS WINDOW Ian Potter Museum foyer, Swanston Street on university campus. (Designed for Wilson Hall, University of Melbourne, which was destroyed by fire in 1951. Window was retrieved from the ruins.)
1935 MUIRALS Myer Melbourne Mural Hall dining room, sixth floor, 314 Bourke Street.
1937 STAINED GLASS Orchid Window University of Melbourne Botany School.
1940 MURAL Australian Symbolic Figures University of Melbourne Achitecture, Building and Planning Library (Orginally on display at Royal Insurance Company, 414-418 Collins Street, but donated to university after building was demolished in 1969.)
1963 MOSAIC The Eight Aboriginal Tribal Headmen Temple Court foyer, 422 Collins Street.
1967 MOSAIC Prometheus Monash House foyer, 15 William Street.
List Source: Fairfax Media
 
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Newspaper House, Collins Street under offer

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Analysing trends of the number of properties advertised for rent is the single most useful metric for property investors to make informed property management decisions. Propertyology has just completed an analysis of rental market trends across Australia and there are some interesting trends developing.
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Biggest Increase In Rental Stock (last 12 months)
<ul>
<li>
<a href="https://www.propertyology.com.au/wp-content/uploads/2014/04/2015-03_Propertyology_SuratBasin.pdf" target="_blank">Roma</a> QLD (311% more)</li>
<li>
<a href="https://www.propertyology.com.au/wp-content/uploads/2014/04/2015.03_Propertyology_ArmidaleNSW.pdf" target="_blank">Armidale</a> NSW (81% more)</li>
<li>
<a href="https://www.propertyology.com.au/darwin/" target="_blank">Darwin</a> NT (79% more)</li>
<li>Whyalla SA (39% more)</li>
<li>Newcastle NSW (34% more)</li>
<li>Karratha WA (32% more)</li>
<li>Perth WA (31% more)</li>
<li>Mackay QLD (25% more)</li>
</ul>
 
Biggest Decrease In Rental Stock (last 12 months)
<ul>
<li>Canberra ACT (31% less)</li>
<li>Port Macquarie NSW (30% less)</li>
<li>Muswellbrook NSW (26% less)</li>
<li>Orange NSW (22% less)</li>
<li>Gold Coast QLD (21% less)</li>
</ul>
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The most common method for reporting the state of a rental market is vacancy rates. Data houses such as SQM Research do this by calculating the number of properties advertised for rent as a percentage of all rental properties within that given market. For example, if a specific location had one thousand properties which make up the total rental pool and twenty five of those owners were looking for a tenant the vacancy rate would be 2.5%.
A 3% vacancy rate is considered to be a ‘normal’ market. In my experience, pressure starts to build on rental prices when vacancy rates fall below 2%.
While the vacancy rate of a particular location at a particular time is useful information I find it even more meaningful to understand the rental trends which have been forming leading up to that point in time – is the available number of properties increasing or decreasing?
Imagine yourself receiving that friendly reminder from your property manager that a lease on one of your investment properties is getting close to expiry - the tenant has stated that they will not be renewing, and your property manager now needs your instructions on what rental price to advertise your property for. Propertyology is often asked by our clients to provide input in scenarios just like this.
The most appropriate response in this situation would be different if the property was in the south-west Queensland town of Roma compared to the Nation’s capital, Canberra. Research conducted by Propertyology confirms that Roma has experienced the biggest increase in the number of properties advertised for rent over the last 12 months (from 42 to 173). Canberra has experienced the biggest decrease (from 1,056 properties to 737).
When rental trends show a significant increase in volumes of properties available the most appropriate response by the landlord is often to set the rent below the rest of your competition. 80% of something is more than 100% of nothing; rents don’t always go up. And, unless there is a pending economic shift which gives hope for a reversal of this trend in the short term it might also be appropriate to seek a 12 month term as opposed to the traditional six months.
Conversely, there is more scope to increase rents when there is a limited number of properties for tenants to choose from. And, if the trend appears to be that the number of properties available is likely to decline it might be appropriate to stick with a short-term lease.  Port Macquarie in New South Wales (from 171 properties to 119), Muswellbrook in Hunter Valley (from 226 to 167), and Gold Coast (from 2,665 to 2,125) have also seen a significant reduction in the number of properties advertised for rent.
As forecast by Propertyology quite some time ago, Darwin (79% more rentals) and Perth (31% increase on an already high base) have significantly more properties available for rent today compared to 12 months ago.
Factors which influence the number of properties advertised for rent include:
<ul>
<li>The level of supply of new properties recently built;</li>
<li>Seasonal factors such as school holiday periods, peak tourism periods, Christmas / New Year, agriculture seasons;</li>
<li>Commencement and completion of large employment contracts; and</li>
<li>Commodity price peaks and troughs.</li>
</ul>
Large volumes of properties purchased by investors (as opposed to owner-occupiers) within a short period of time will also result in more stock available in a defined rental pool. A good example of this is Sydney where it has been reported that as high as 70% of home loan approvals during 2014 were to investors (30 – 45% is ‘normal’). Logic would suggest that pressure on rents will start to ease in Sydney.
Astute property investors will also analyse rental trends as part of their broader research in determining where to invest (although there are far more important considerations than this).  
Property is an asset class which requires investors to hold for the long-term. Over the years of holding a property there will invariably be periods when there are large volumes of properties available for rent and other periods when the rental market is tight. The astute landlord will understand the economic drivers which influence demand for their market, the supply pipeline, and current rental trends.
Simon Pressley is Managing Director of Propertyology, a REIA Hall Of Fame Inductee, property market analyst, accredited property investment adviser, and Buyer’s Agent. Contact Simon <a href="https://www.propertyology.com.au/contact-us/" target="_blank">here.</a>
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spressley-sBoeMhannA

Watching rental market vacancy rate trends key for investment success: Propertyology's Simon Pressley

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When the Head Teller at the Reserve Bank of Australia dropped the cash rate to a record low of 2.00% this week the Head Cashier AKA Joe Hockey immediately started bellowing "Australians – spend – spend – spend."
So let me let you in on a secret Joe – Australians are spending up big, it’s just that they are using the online loophole where they don’t have to pay you GST. The other problem is that following the Global Financial Crisis many Australians (to save money) reverted back to paying cash for services simply because that way they get a significant discount.
Naturally those who have negatively geared their properties don’t engage in the cash for services given they need the receipts in order to gain their much required tax reduction. I guess that given nearly all developed countries have a tax structure where you do pay a tax when you sell the family home, however all monies spent – mortgage, maintenance and improvements – are a tax deduction. So I hope now that you can understand why GST receipts are in decline.
When the GST was introduced nearly 15 years ago a comparative analysis was undertaken to see what the online shopping receipts were likely to be for purchases under $1,000. The analysis which in all probability was done using a Commodore 64 with a flashy floppy disc drive found that it would cost as much to collect the GST on these purchases so the plan was shelved.
Today Australians are all over <a href="https://www.ozsale.com.au/default.aspx?cid=10" target="_blank">OZSALE</a> and <a href="https://www.dealsdirect.com.au/" target="_blank">DealsDirect</a> to name just two who just happen today to be hugely successful online businesses that turn over hundreds and hundreds of millions each year. According to the National Australia Bank’s (NAB) latest Online Retail Sales Index – Australians spent a record (yes record) $16.6 billion online in the year to January 2015. Given that the vast majority would be sales with no GST payable that’s at least $1.500 billion in missing revenue each year – now that’s embarrassing.
Deloitte has just readjusted the budget projections to take into account the latest economic news where last year’s budget deficit was $48.5 billion. Deloitte is predicting this year’s deficit will be $5.5 billion worse than predicted a year ago, and will be close to $45.9 billion. All will be revealed next week but rest assured it will be a shocker – although it’s difficult to agree with increasing the GST when we have all those ‘rivers of gold’ that the federal government is missing simply because they won’t reform.
Just as embarrassing was the announcement last week by Prime Minister Tony Abbott that foreign investors who have purchased illegally in Australia have until the end of November to come forward to avoid criminal charges and severe fines. Now I have no doubt that illegal property acquisitions will be huge in number but how about upgrading from Windows 2003 and start a proper National Property Register which has been promised for years.
The illegal buying debate does get amusing at times given some are saying that the best method is when buyers attend an auction to bid they must provide identity and that data is recorded – that then will stop illegal buyers. Well, sorry no it won’t. That legislation was brought in 2003/2004 in an effort to stop dummy bidding where records of identification are recorded should the Office of Fair Trading require an investigation. If a party attends an auction and they want somebody to bid on their behalf it is that person bidding who provides the identification not the eventual buyer who is not required to provide any identification – even though they may successfully buy the property.
Any buyers who have purchased illegally would now be contacting their respective legal representatives and immediately transferring ownership into the name of an Australian resident – the federal government has given them a six month window to conform and that’s based on the illegal owners coming forward. Brilliant plan that one!
With the Head Cashier now dutifully accepting the pseudo role of Housing Minister the forensic search for illegal purchasers across Australia has begun in earnest. Maybe Joe should spend a week of work experience at the NSW government who just collected more than $5.000 million from those naughty first home buyers who illegally applied for grants. Going back three years and with nearly 1,400 investigations they found 478 first home buyers who were forced to repay their illegal grants. A spokesman for the NSW Office of State Revenue said it routinely conducted ‘’random and targeted audits matching and data mining.”
All that Joe Hockey needs to do is find a way to get hold of that data and do a targeted audit through his Australian Taxation Office audits plus some additional data mining using stamp duty records.
Why is it that Canberra just doesn’t see the billions they lose each year from GST online sales and why it’s so easy to set up a National Property Register?
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robertsimeon-hRNTwJyXkQ

Chaos in Canberra but that’s not unusual: Robert Simeon

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The developer lobby, better at promoting self-interest than anyone else in society, would have us believe that building more homes will make homes cheaper.
Developers themselves believe that building more houses will make themselves more profitable – particularly if government gives them their wish list of things to make their lives easier - and what happens after that … well, who cares?
The truth is: the only way to make homes significant cheaper is to build far too many of them. Over-supply is the one thing that can crash a market. 
All of the areas I call the No Go Zones are places undermined by over-supply. Investors far too often fall victim to such places because supply is the factor most over-looked by property investors.
Those who take the time to do some research before tossing a few hundred thousand at an investment property tend to focus on demand, with scant regard for the flipside of the growth equation.
Some organisations that purport to advise investors preach a simplistic follow-the-population-growth strategy.
If high population growth was the core element in a good locational choice, the leading capital growth performers in the past five years would have been the Gold Coast and Wyndham City in the south-west of Melbourne. Gladstone, boosted by the influx of tens of thousands of gas project employees, would have soaring prices.
The opposite is true in those markets, which have all suffered recent periods of marked decline. The too-often forgotten factor is supply.
The Gold Coast had five years of falling property values because of too much supply. Wyndham City, which overtook the Gold Coast as the municipality with the greatest annual additions to its population, recorded no growth in prices for three years, because of an excess of house-and-land packages – ultimately flogged off to distant investors by dodgy marketing companies.
Gladstone, after recording high growth in rentals and prices in 2011 and 2012, saw rising vacancies and a sharp downturn in prices and rents after 2012 because developers went overboard yet again.
Over-supply causes rents to fall and that drags down property values.
The developers building the new projects don’t care as long as they can sell their product to someone and move on to the next project. In over-supplied markets, they tend to target distant investors unfamiliar with local conditions. The Chinese are the victims of choice these days.
There are two “danger situations” at the core of the No Go Zones issue: (1) inner-city apartment markets; and (2) regional centres where a rise in supply (through new development) has coincided with a decline in demand (through downsizing in the resources sector).
Inner-city units present a significant danger throughout capital city Australia. Boom-bust scenarios are common. As Hegney Property Group chairman Gavin Hegney says: “Apartments are always in over-supply or under-supply because of the lumpy nature of the market. With a housing estate you can release allotments in stages but you can’t do that with an apartment tower.”
Another problem is the long lead time in creating high-rise unit buildings. Multiple developers will decide simultaneously to build towers in a strong market – two or three years later when they are completed, a lot may have changed.
This is a clear and present danger for Australian buyers. Developers don’t care who buys their units as long as someone does, nor are they concerned if their buyers later find themselves unable to tenant their units or are forced to sell at a loss.
But it is a concern for the market and for real estate consumers.
Given that Melbourne, Brisbane, Perth, Canberra and Darwin already have – or are heading towards - surpluses of inner-city apartments, and Sydney and the Gold Coast are trending in that direction, a good strategy for property investors is to simply avoid CBD unit markets altogether. There are much better (and cheaper) places to buy.
The coal and iron ore industries are the cause of the other core “danger situation”. When the resources boom was at its strongest, mining expansion created strong property markets in towns and regional centres that felt the positive impacts.
This prompted developers to initiate new projects to exploit the demand. Sadly, this coincided in a downturn in the coal sector, with commodity prices declining at a time of rising costs for mining companies. The iron ore industry has had similar problems.
Rising supply coincided with falling demand – a recipe for decline in property markets. The result has been sharply rising vacancy rates, leading to lower rents and ultimately falling prices.
Another factor is the growing use of fly-in-fly-out workers accommodated in workers camps, rather than renting in the local property market. 
This has been a big factor in the Surat Basin region of Queensland, where developers built a lot of new dwellings in anticipation of strong rental demand – but more than 90% of resources workers have been 
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter</a>.
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terryryder-YECXbqmri2

Danger at the core of property investment 'No Go Zones': Terry Ryder 

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Despite design and administrative shortcomings that overshadowed the National Rental Affordability Scheme (NRAS), they in no way warranted the scheme's discontinuation, according to the Senate Inquiry into Affordable Housing.
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NRAS is a partnership between the Australian Government and the states and territories to invest in affordable rental housing with property investors.
 It is a $6 billion initiative intended to stimulate the supply of affordable rental homes across Australia aimed to increase the supply of new affordable rental housing; reduce rental costs for low and moderate income households; and encourage large-scale investment and innovative delivery of affordable housing.
But while evidence to the Senate Standing Committees on Economics indicated clearly that a range of individuals and organisations strongly supported NRAS, the inquiry found some difficulties with its implementation: 
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teething troubles, including administrative practices associated with too much paperwork, delays in processing applications and slow response to emerging signs of problems; 
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understaffing, inexperience and high turnover within the department administering the scheme; 
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design inadequacies including a one size-fits-all approach which failed to take account of, or appreciate, the housing circumstances of particular areas with an identified need for affordable housing such as high value suburbs and regional, rural and remote areas; 
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lack of clarity around the targeting of incentives and eligibility, which allowed significant allocation of incentives to overseas students; 
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disclosure measures, which allowed the trading of incentives with excessive fees to persist and ultimately to damage the perceived integrity of the scheme; and 
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external factors, notably the global financial crisis which created challenges in attracting private investment. 
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"These design and administrative shortcomings have overshadowed NRAS' success but, while they point to the need for refinement, they in no way warrant its discontinuation," the committee concluded. 
From its commencement in 2008, the annual incentives available to NRAS providers were to last for ten years, indexed annually for the rental component of the Consumer Price Index (CPI) and comprise two parts.
The incentive values for 2014–2015 were:
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a Commonwealth Government incentive of $7,996 per dwelling per year as a refundable tax offset or payment; and 
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a state or territory contribution of $2,665.6 The total amount came to $10,661. 
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When announced, the original proposal was for an initial round of 50,000 incentives, though the scheme was introduced in the middle of the Global Financial Crisis (GFC) at a time when the banks were very hesitant and valuers were very negative. 
The Community Housing Federation of Australia suggested that one of the benefits of NRAS had been the partnerships it had facilitated across the not-for-profit, for-profit, development, and financial sectors, building sustainable communities with some private sales, some NRAS and some social housing.
The committee noted NRAS brought direct private investment into the affordable housing arena and significantly increased the community housing providers' engagement with financial institutions.
The committee heard it created a mechanism which has enabled a combination of private equity, the private sector, community-housing providers and the government to work in collaboration. 
Despite the strong support for NRAS, a number of witnesses drew attention to weaknesses that have undermined its performance.
JELD-WEN indicated that some NRAS incentives had been allocated to tenderers that did not have sites for the commencement of rental housing, saying it was implausible that NRAS incentives could be approved without tenderers submitting proposed developments on actual sites.
JELD-WEN also criticised NRAS for poor accountability. It referred to 'a glaring need for a report card on the cost-effectiveness.
The Property Council of Australia made a number of observations about NRAS including that some participants had been concerned about repetitious and costly tendering processes in rounds 1–3. 
Grace Mutual Limited referred to delays in processing applications and unclear, complex and poorly drafted regulations and law that 'hurt the program'.
Some argued greater consideration should be given to the geographic location of the NRAS incentives granted to ensure those regions with the poorest housing affordability and suitability for disadvantaged groups receive more incentives. 
The Tenants Union of Victoria noted that NRAS had played an important role in bringing private finance to increase the amount of affordable housing in Australia. 
But it also referred to recent negative media coverage reporting allegations that NRAS had been 'rorted to provide accommodation for wealthy international students, and that foreign investors, brokers and small time investors' were exploiting NRAS tax breaks.
The Tenants Union of Victoria held the view that NRAS was one of the important supply side interventions that made a positive difference. 
The committee did believe the review of NRAS was warranted. 
It noted lessons needed to be learnt from NRAS such as the need for clear and tight eligibility criteria and better targeting to areas of need.
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But the cancellation of round 5, however, "was a very different matter."
"This cessation has set back the scheme just as it was gaining the trust and support of the private sector and beginning to make a material contribution to the supply of affordable housing. 
"Not only has it undermined investor confidence in this scheme, it has also fed into the general uncertainty that has engulfed the national policy on affordable housing. 
"The committee is firmly of the view that the government should start immediately to rekindle the confidence that institutional investors were starting to show in investing in affordable housing and to provide greater certainty in order to attract such investors."
The Senate committee recommends that:
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in the absence of any credible alternative scheme designed to increase the supply of new affordable housing and considering steps have already been taken to improve the administration and implementation of NRAS, that the Australian Government continue with NRAS round 5; 
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the Federation White Paper process look at the Queensland NRAS model, which appeared to have much tighter controls over eligibility, as a means of determining where further improvements or fine-tuning could make the system more robust and effective; 
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the Federation White Paper process look at how NRAS or a replacement scheme could be reframed to take account of the particular housing circumstances of regional Australia and ensure that NRAS housing was better targeted to areas in most need; and 
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as part of the Federation White Paper process, a thorough cost benefit analysis of NRAS be undertaken, and that any such analysis include comparison of forgone revenue from demand subsidies such as the first home owners grant, and negative gearing and capital gains tax.
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NRAS should be restored with improvements: Senate Affordable Housing Inquiry 

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GUEST OBSERVATION
The Reserve Bank of Australia would dearly love to be like Dr Doolittle’s amazing pushmi-pullyu, able to face both directions at once. Cutting interest rates to encourage economic activity (and a lower dollar), but at the same time raising rates to dampen the superheated Sydney housing market. But unlike the mythical vicuna, the RBA board just cannot have it both ways.
So after being dragged to its second rate cut this year, the RBA looks like it will throw up its hands and hospital pass the housing problem to someone else – the Australian Prudential Regulation Authority.
Since late last year, the RBA and APRA have been <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-03-25/rba-says-too-early-to-judge-home-loan-restrictions/6346872">brainstorming</a> what could be done about the rise in investment mortgage lending, which along with foreign investors, appear to the main culprits in runaway house price increases. In December last year, the two regulators announced they had <a href="https://www.apra.gov.au/adi/Publications/Documents/141209-Letter-to-ADIs-reinforcing-sound-residential-mortgage-lending-practices.pdf">written to banks</a> reminding them they should be “prudent” about their lending practices.
In fairly benign language APRA warned bank CEOs that if banks did not pay heed they “may institute further supervisory action” and threatened such action “could include increases in the level of capital” that individual banks are required to hold.
In its Dear CEO letter, APRA also drew a line in the sand pointing out that growth in lending to property investors “materially above a threshold of 10%” will be an important risk indicator in considering the need for further action.
That particular letter must have sat in the “do after the holidays” pile because the latest figures show a 10.4% <a href="https://www.apra.gov.au/adi/Publications/Documents/MBS-March-2015.pdf">increase</a> in lending for property investment for the year to the end of March. Only the Commonwealth Bank stayed within the regulator’s guideline - just.
Market jitters
When APRA head Wayne Byres brought this <a href="https://www.smh.com.au/business/banking-and-finance/apra-keeps-macroprudential-strictures-on-bank-lending-secret-20150320-1m3nik">profligacy</a> to everyone’s attention and warned of further action, the markets got spooked and bank shares were <a href="https://www.theage.com.au/it-pro/bank-shares-wiped-out-over-apra-real-estate-crackdown-fears-20150430-1mwucx">sold off</a> by nervous investors.
But why would banks take APRA’s warnings that seriously? In an ongoing stoush resulting from APRA’s <a href="https://theconversation.com/is-the-basel-process-broken-you-can-bank-on-it-11488">cave-in</a> to the banks on the so-called Committed Liquidity Facility (CLF), it is <a href="https://www.australianbankingfinance.com/banking/the-games-we-play--part-two/">reported</a> that some of the big banks are not cooperating on the relatively simple matter of reporting which mortgages make up their Residential Mortgage Backed Securities (RMBS). Given the amount of low-risk profits banks make from investor lending (due to the magic of negative gearing) it is highly likely they would turn a deaf ear to APRA on this one.
The three little pigs (also known as the Council of Financial Regulators) may puff and blow all they like but the banks will continue to lend to property investors until the rules are changed and it becomes unprofitable. But that is another discussion.
Regulating the economy
Should APRA have any role at all in implementing economic policy?
In 2012, the RBA and APRA issued a <a href="https://www.rba.gov.au/fin-stability/resources/2012-09-map-aus-fsf/pdf/2012-09-map-aus-fsf.pdf">document</a> attempting to clarify the roles of the respective regulators – not an easy task. In obtuse regulatory speak, APRA’s role was described as: "…to promote financial system stability in Australia while balancing its objectives of financial safety and efficiency, competition, contestability and competitive neutrality."
In addition to being the supervisor of individual banks, credit unions, insurance companies and the largest superannuation firms, APRA is also what is known as the macro-prudential, systemic regulator.
APRA’s remit is to take actions to reduce so-called “systemic risk”, specifically in the case of clearing and settlement facilities, and more generally and opaquely by “limiting the systemic risks associated with breaches of financial promises”.
Does lending to property investors pose a systemic risk?
Depending on one’s position, borrowing to purchase investment properties may be a good thing (if one is benefiting from negative gearing), or bad (if one is frozen out of the housing market). However, this is an economic, tax and social issue rather than a banking one.
The question is whether this is a risk sufficient to cause a major bank to fail and bring other banks down with it.
In reality, negative gearing is as close to a risk-free profit as banks can get - after all taxpayers pick up the tab. Banks are more likely to fold as a result of other systemic risks, such as lending to iron ore producers.
The role of APRA in this issue is disquieting. Where did the 10% growth “limit” come from? [It turns out it was agreed with ASIC and RBA]. Why not 5% or 15%, what is the economic purpose of this very specific limit?
And why would shareholders not be informed of which banks are being targeted by APRA, as Byres has intimated? It is not APRA’s role to control continuous disclosure requirements, that is up to ASIC.
If the government wishes to dampen down the housing market, using banking regulators to do the hard work for it just won’t work. Banks are too far removed from the problem to be able to force meaningful change.
But more than that, banking (and other) regulators should not be used as agents of short-term government policy, they should be independent agencies warning when policies start to go wrong.
<img src="https://counter.theconversation.edu.au/content/41188/count.gif" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/pat-mcconnell-13137">Pat McConnell</a> is Honorary Fellow, Macquarie University Applied Finance Centre at <a href="https://theconversation.com/institutions/macquarie-university">Macquarie University</a>.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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